The Cubs know the trade pool for starting pitchers is shallow and the prices are high, and while they started the trade season with a plethora of available pieces, none of them has been more valuable than righthander Matt Garza. Garza, a 29-year old in his free-agent season, has postseason experience (2-1, 3.48 ERA in 31 innings with the Tampa Bay Rays) and he has been a consistent sub-4.00-ERA starter.

Matt Garza hasn't had an ERA higher than 4.00 since his rookie year. (AP Photo)

Garza’s price, set by team president Theo Epstein and general manager Jed Hoyer, always has figured to be at least one top prospect. But he is healthy again, pitching well again (3-0, 0.90 ERA in his past four starts before Monday) and the Cubs again have some interest in keeping him. The sides have broached the possibility of an extension as Jon Heyman of CBSSports.com first reported Monday, but a source familiar with the process said those talks have not reached a “serious point.”

Regardless of the seriousness of the talks, the fact that the possibility is out there means the Cubs can keep their price high before the July 31 non-waiver deadline.

“He’s the best guy on the block and they know it, so they are looking for the kind of package the Brewers got for (Zack) Greinke,” a National League executive said. “They know the choices are thin and now they put it out there that they have discussed an extension, so of course the price can now go up. They are playing this the right way.”

The Baltimore Orioles took the Cubs’ other available starter in Scott Feldman, and the Los Angeles Dodgers won the Ricky Nolasco bidding over the weekend. Neither club was willing to give up the necessary prospects for Garza, so neither was a serious contender for him despite there being offers exchanged.

Of teams maybe willing to part with top prospects—such valuable commodities as teams try to cut spending—the Texas Rangers, Cleveland Indians, Boston Red Sox, Toronto Blue Jays and Washington Nationals have expressed either serious or mild interest. It was rumored the Cubs wanted to deal Garza by the All-Star break, but because Hoyer referred to this as a “seller’s market” last week, the Cubs will wait it out until their price is met.

And because Garza is willing to stay a Cub, the threat of an extension is serious even if talks haven’t hit that point yet. That means the threat of the Cubs waiting for a buyer to meet their price is real. If no trade is done by deadline, the Cubs won’t come out losers because they can still work on a deal of five years or less even into the offseason for Garza as he enters his age-30 season. If they don’t get a deal done, the Cubs can still make a qualifying offer and if Garza signs elsewhere, the Cubs gain a first-round draft pick.

“It seems like the Cubs are dealing from a position of power more than any other team with a pitcher available,” the executive said.

Alternatives to Garza

Cliff Lee and Yovani Gallardo are names floating around. Milwaukee Brewers GM Doug Melvin told Sporting News a couple weeks ago that Gallardo could be had for a steep price, but given his recent lack of production—15 earned runs allowed over his past 13 innings—no team is willing to “wow” Melvin. Gallardo’s main value at this point is team control since he can’t be a free agent until after the 2015 season, which is a team option year.

As for Lee, the Phillies still are under the impression they can contend in the NL East this season and beyond with an aging and declining roster. Lee’s final year is 2016, also a club option, but he has at least $62.4 million remaining on his contact assuming a team buys him out for $12.5 at the end of it. Lee has been one of the NL’s top pitchers this season and had a run of 11 consecutive quality starts snapped in his last outing.

But the Phllies’ unwillingness to declare their position as buyers or sellers along with Lee’s cost in a trade and over the next few seasons is unappealing to most teams looking for an arm. The Dodgers might have been the only team willing to move on Lee, but in trading for Nolasco, that option is probably off the table for now, although an offseason deal is not entirely out of the question a source told Sporting News over the weekend after the Nolasco deal went down.

Houston Astros righthander Bud Norris has been rumored to be available for about a year now, but he is still with Houston as their best pitcher and their best trade candidate. He is pitching well—3.22 ERA in 18 starts this season and three earned runs allowed in his last three (20 innings)—and is in arbitration eligible for two more years before becoming a free agent in 2015. That makes him a coveted mid-rotation arm for some contender, making the San Francisco Giants a possibility since they lost Nolasco to the rival Dodgers.

The Chicago White Sox would like to move Jake Peavy, but he’s on the disabled list. He could come back after the All-Star break but it would take a couple of strong outings to show he’s completely healthy and for a team to bite. If healthy, Peavy can be a front-line option more attractive than Gallardo, Lee or Norris.

Stock rising

As the San Diego Padres have lost nine straight, their players are again garnering attention as the deadline nears, mainly righthander Edinson Volquez. The Padres are fading in a bad NL West, so while they once looked like buyers about a week ago, they are now considered sellers.

Volquez has not been good this season with an ERA over five, but he has allowed nine earned runs in his last 29 2/3 innings (2.73 ERA in his last five starts), including a six-inning, one-run performance at Fenway Park on Wednesday.

Scouts have been on Volquez for a couple of weeks now and have to like what they are seeing. They also think if he can somehow harness his control he can be extremely effective down the stretch. Volquez, a free agent after the season, is allowing 4.2 walks per nine innings this year.

Be careful with…

… Seattle Mariners’ DH Kendrys Morales. While he seems to be having a decent season—.272/.332/.438 with 11 home runs entering Monday—he has cooled down considerably over the past 20 games, hitting .208/.274/.351 with three homers.

Now it could be that Morales is just slumping, but he has also been a below average hitter away from Seattle this year. His .247/.313/.753 line on the road is troubling, but he has hit for more power on the road, which is typical of Mariner hitters even with the fences at Safeco Field moved in.

Basically, Morales is a gamble, but he’d be a fairly cheap one. The thing is a team shouldn’t count on him as being their bat to take them over the playoff hurdle because he could be a disappointment.

An important week for…

… The Phillies, who host the Nationals and White Sox before the All-Star break, which is a time when teams decide if they will buy, sell or stay.

The Phillies have players other teams want, including second baseman Chase Utley, third baseman Michael Young and closer Jonathan Papelbon. Following Monday's win, the Phillies are 2 ½ games behind the Nationals for second place in the NL East, so winning that four-game series could be vital for their survival hopes. Lose that series, and all those names could become available.